100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Module -10 Buying A Home Questions with Accurate Answers $10.99   Add to cart
Quickly navigate to
Preview
  2.  
  3. Foolproof
  4.  
  5. Foolproof

Exam (elaborations)

Module -10 Buying A Home Questions with Accurate Answers
 5 views  0 purchase
  • Course
  • Foolproof
  • Institution
  • Foolproof

Module -10 Buying A Home Questions with Accurate Answers What is the first step when you are in the market to buy a home? Don't even think about looking at a place to buy until you understand your budget. What is a good definition of "house poor"? You can't save any money because you need...

[Show more]

Preview 1 out of 1  pages

Document information

  • September 11, 2024
  • 1
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • module 10 buying a home questions with accurate a
  • what is the first step when you are in the market
  • what is a good definition of house poor you can
  • why do mortgage brokers normally have no risk in t

Written for

  • Foolproof
  • Foolproof

Seller

avatar-seller
julianah420

Reviews received

Content preview

Module #10 Buying A Home Questions
with Accurate Answers

What is the first step when you are in the market to buy a home? - answer Don’t even
think about looking at a place to buy until you understand your budget.

What is a good definition of "house poor"? - answer You can't save any money because
you need every dime just to pay your mortgage and bills.

You're deciding how much you can afford to pay each month on your mortgage loan.
What monthly payment guideline should you follow? - answer This guideline is issued
by a group that makes absolutely no money on selling mortgages. The group only offers
advice on ways to spend responsibly - and their services are free

Why do mortgage brokers normally have no risk in the mortgage process? - answer All
of the above

Which of the following statements is the most accurate about choosing guidelines for
buying a home? - answer Ask yourself this question about any guideline: Does the
person or company providing the guideline make more money if I follow their guideline?
If the answer is yes, be careful. Question the guideline and compare it to other
guidelines

It is almost impossible to buy a house these days without a sizable down payment -
answer True

Normally, mortgage brokers have nothing to lose by encouraging you to get a bigger
loan than you may be able to afford - answer True

Many conservative consumer advocates said you should not pay more than 25% of
your TAKE-HOME PAY on a mortgage payment - answer True

What is a good reason to buy a house? - answer You have a good amount of money
you can use as your down payment

You buy a $3500 car and finance it through the car dealer. The contract says if you are
two months delinquent with your payment the finance company can take the car back.
What statement best describes this situation? - answer The car is collateral for my loan

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller julianah420. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $10.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

72042 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$10.99
  • (0)
  Add to cart